{"id":79745,"date":"2024-07-16T00:00:00","date_gmt":"2024-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/16\/us-delays-maersk-hapag-lloyd-jv-from-coming-into-effect\/"},"modified":"2024-07-16T00:00:00","modified_gmt":"2024-07-16T00:00:00","slug":"us-delays-maersk-hapag-lloyd-jv-from-coming-into-effect","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/16\/us-delays-maersk-hapag-lloyd-jv-from-coming-into-effect\/","title":{"rendered":"US delays Maersk + Hapag-Lloyd JV from coming into effect"},"content":{"rendered":"

US regulator holds up launch of <\/strong>Maersk + Hapag-Lloyd<\/strong> alliance:<\/strong> The US Federal Maritime Commission (FMC) is holding up the launch of the Gemini Cooperation, a joint venture between shipping giants Maersk and Hapag-Lloyd that was set to launch next week, pending the divulgence of additional information needed to determine the ventures competitive impact, according to a statement<\/a>. <\/p>\n

Looking forward:<\/strong> \u201cAt this point, this development should not be seen as threatening to the Gemini Cooperation, but more of an administrative burden to be lifted,\u201d said Danish shipping consultancy Sea-Intelligence analysts in a report seen by Splash<\/a>.<\/p>\n

Background:<\/strong> The pair entered into a long-term operational collaboration in January<\/a> to establish a maritime network with schedule reliability above 90%. Gemini Cooperation will operate across seven trades using some 290 vessels with a total capacity of 3.4 mn containers. The collaboration aims to enhance service quality and access to well-connected ocean hubs as well as reduce transit times.<\/p>\n

\n

\n

Congestion at Singapore Port is showing signs of easing<\/strong>, with vessel arrivals dropping 10% m-o-m to 241 mn tons in June, Bloomberg<\/a> reports, citing Singapore Maritime and Port Authority data. The port\u2019s container throughput also fell 5% m-o-m in June and average waiting times have been cut, indicating that the backlog of ships entering the port has dropped. <\/p>\n

ICYM: <\/strong>Recent congestion at Asian ports has been attributed to<\/a> increased traffic due to vessels rerouting away from the Suez Canal to avoid attacks in the Red Sea. Container vessel rates have risen due to rerouting and delays, and terminal congestion is expected to last through August. Some 20% of Singaporean logistics providers are shifting from maritime transport to air freight due to port congestion. Maritime congestion caused shipping costs to rise by up to 50% since the beginning of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stories on our radar this morning from around the world<\/p>\n","protected":false},"author":1,"featured_media":79746,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,118,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-maersk","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"e06a580f-170e-49c7-9348-c7e2ef385395","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/409.jpg","photo_position":"above","homepage_title":"","full_issue_title":"US delays Maersk + Hapag-Lloyd JV from coming into effect","related_issue":[79730],"teaser":"Stories on our radar this morning from around the world","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.bdd5a013-8517-42bf-a414-156ca69ad9c3.mp3"},"yoast_head":"\nUS delays Maersk + Hapag-Lloyd JV from coming into effect - 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